Agenda Item
Meeting Date: 6/25/2019 - 4:00 PM
Category: 11.0 CONSENT AGENDA
Type: Action
Subject: Contracts and Agreements: Colorado School Districts Self Insurance Pool (CSDSIP) Renewal for Fiscal Year 2019 - 2020
Strategic Plan Alignment:
Enclosure:
File Attachment:
Summary: Pueblo City Schools participates in the Colorado School Districts Self Insurance Pool (CSDSIP) for comprehensive property and liability insurance coverage. CSDSIP focuses on the Colorado education market and partners with public K-12 school districts, BOCES and charter schools. As a member of the CSDSIP, the district has an investment interest in the pool which means the district pays a contribution, not a premium. Unlike an insurance company, in good years when losses are low and there is an operating surplus, the district will receive a dividend or contribution credit based on the surplus. The CSDSIP Board elected to increase Property Rate by 111%, to decrease the School Entity Liability rates by 0.5%, and increase for Auto Liability Rate of 4% for the Fiscal Year 2019 - 2020 policy term due to the significant property losses and frequency due to severe weather including losses due to hail, wind and rainstorms.

The proposed rates for Fiscal Year 2019 - 2020 are as follows:
Property $ 669,949
Equipment Breakdown $ 38,971
Crime $ 863
School Entity Liability $ 178,209
Auto Liability $ 67,855
Total $ 955,847
Funding:
Recommendation: The Board of Education approves the renewal of its property, crime, school entity liability and auto insurance coverage for Fiscal Year 2019 - 2020 with the Colorado School Districts Self Insurance Pool (CSDSIP) as presented in the June 25, 2019 Board materials; provided that in doing so, the Board is specifically reserving and does not waive any rights or claims that it may have against CSDSIP or others for prior occurrences, claims, coverage, or other issues.
Approvals:
Recommended By:
Signed By:
David Horner - Chief Financial Officer
Signed By:
Charlotte Macaluso - Superintendent